✨ Financial Statements Notes
NEW ZEALAND GAZETTE, No. 158
26 NOVEMBER 2010
VECTOR LIMITED & SUBSIDIARIES
GAS DISTRIBUTION ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2010
6. NOTIONAL RESERVES
| 2010 | 2009 | |
|---|---|---|
| $000 | $000 | |
| Balance at beginning of the period | 230,998 | 116,090 |
| Net profit for the period | 22,495 | 11,119 |
| Increase due to debt-equity ratio reset | - | 103,789 |
| Balance at end of the period | 253,493 | 230,998 |
7. INTANGIBLE ASSETS
2010
| COST | ACCUMULATED AMORTISATION | CARRYING AMOUNT | |
|---|---|---|---|
| $000 | $000 | $000 | |
| Goodwill | 167,869 | - | 167,869 |
| Easements | 191 | - | 191 |
| Software | 11,507 | (8,597) | 2,910 |
| Total | 179,567 | (8,597) | 170,970 |
2009
| COST | ACCUMULATED AMORTISATION | CARRYING AMOUNT | |
|---|---|---|---|
| $000 | $000 | $000 | |
| Goodwill | 167,869 | - | 167,869 |
| Easements | 183 | - | 183 |
| Software | 17,129 | (11,625) | 5,504 |
| Total | 185,181 | (11,625) | 173,556 |
8. PROPERTY, PLANT AND EQUIPMENT
2010
| COST | ACCUMULATED DEPRECIATION | CARRYING AMOUNT | |
|---|---|---|---|
| $000 | $000 | $000 | |
| Freehold land | 14 | - | 14 |
| Distribution systems | 446,682 | (48,668) | 398,014 |
| Plant, vehicles and equipment | 5,304 | (4,162) | 1,142 |
| Capital work in progress | 9,191 | - | 9,191 |
| Total | 461,191 | (52,830) | 408,361 |
2009
| COST | ACCUMULATED DEPRECIATION | CARRYING AMOUNT | |
|---|---|---|---|
| $000 | $000 | $000 | |
| Freehold land | 78 | - | 78 |
| Distribution systems | 441,041 | (45,979) | 395,062 |
| Plant, vehicles and equipment | 12,873 | (10,516) | 2,357 |
| Capital work in progress | 4,660 | - | 4,660 |
| Total | 458,652 | (56,495) | 402,157 |
Interest and other internal costs are capitalised to property, plant and equipment while under construction. Interest is capitalised against property, plant and equipment largely at a capitalisation rate of 7% per annum. During the year $0.5 million (30 June 2009: $0.5 million) of interest and other costs were capitalised.
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NZ Gazette 2010, No 158
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Vector Limited Financial Statements for Gas Distribution Activities
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